Safe Mobile Banking: 9 Questions to Ask Yourself

Mobile banking is slowly rising in popularity. According to a survey conducted by the American Bankers Association, about one-third of Americans have made deposits through mobile devices in the past year. Like with all technological advances, as more people adopt them, it becomes increasingly important to know how to protect yourself from online threats.

9 questions to ask yourself when banking on a mobile device:

  1. Is my account safe? One of the biggest advantages to mobile banking is the convenience it brings to monitoring your accounts. When you start banking on a mobile device, your most frequent action should be to check your accounts to ensure no fraudulent transactions appear.
  2. Is this link safe? Phishing scams are common in both email and text messages. Never click on links you receive in a text message that come from unknown numbers. If you receive an email that appears to be from your bank, look closely to make sure it is actually from the bank before clicking on any links. If anything looks suspicious, delete it, and navigate to the bank’s website from your browser.
  3. Is my network secure? You should never conduct mobile banking over a public Wi-Fi connection. Use a secured private Wi-Fi connection, or switch to cellular data to conduct banking.
  4. Is this banking app official? Before downloading a mobile banking app, check the bank’s website to see if it is promoted by the bank. If it does not appear on the website, it is possible that it was not sanctioned by the bank.
  5. Are my other apps safe? Only download apps from your device’s app store. Apps are scanned for malware before they are made public. Android devices allow users to download from external sources, however, and these apps could be corrupted by malware.
  6. Are my apps up-to-date? Apps are frequently updated to fix bugs and provided added security. Make sure you have downloaded the latest updates to your app to ensure your device is secure.
  7. Is my device secure? If you decide to bank on a mobile device, it is important to use the security measures that come with it. Set a passcode to your device, so if it is lost or stolen, someone will not be able to gain access to the information stored on your phone.
  8. Did I log out? It is never wise to stay logged into any online account. When you finish your mobile banking, make sure you log out of your account.
  9. What measures is your bank taking to make mobile banking safe? Banks take many precautions to ensure a safe and enjoyable banking experience for customers. Read what Cedar Rapids Bank & Trust is doing to protect customers’ accounts.

“While Cedar Rapids Bank & Trust strives to offer a variety of ways for customers to bank with us, it is important to be aware of the cyber threats that face new banking methods,” said John Rodriguez, EVP of Operations for Cedar Rapids Bank & Trust.  “By taking proper precautions, mobile banking can be a safe and convenient way to manage your accounts.”